What’s on the Economic Horizon
U.K.’s Mortgage Approvals Report Due Today
Japan’s Retail Sales Disappointed Expectations
U.S. Dollar (USD)
Better-than-expected data? So what? The currency bulls weren’t too impressed with the Greenback last Friday as it barely ended the day higher against its counterparts. EUR/USD only slipped by 9 pips while Cable lost 38 pips. What’s up with that? Read more…
Euro (EUR)
If I were to pick one letter in the alphabet to describe EUR/USD’s price action yesterday, it would be the letter “V.” EUR/USD started the day at 1.2945, fell to a fresh 11-day low at 1.2883, and then rallied back up near its open at 1.2936. Read more…
British Pound (GBP)
Talk about letting a rally fizzle! The pound was unable to extend its gains for a third straight day as it ended the week on a low note. After trading below its opening price for almost the entire day, Cable settled 38 pips lower at 1.6093. Read more…
Japanese Yen (JPY)
Who was king of the pip hills last Friday? The yen was! Thanks to a plan released by Japan’s Economics Minister, the yen skyrocketed against its currency buddies. USD/JPY fell by 70 pips, EUR/JPY plunged by 100 pips, and Guppy completely erased all of its Thursday gains. What the heck did the Minister say? Read more…
Canadian Dollar (CAD)
Yeouch! Since there were no reports from Canada last Friday, the Loonie traded on risk sentiment. And boy did it hit the Loonie bulls hard! USD/CAD closed 40 pips higher than its open price after hitting an intraday high of .9995. Read more…
Australian Dollar (AUD)
Phew! That was a close one! After dropping to an intraday low of 1.0305, the Aussie bulls flexed their muscles and managed to push AUD/USD 8 pips higher than its open price by the end of the day. What dragged on the Aussie in the first place? Read more…
New Zealand Dollar (NZD)
It took a strong, last minute rally in the New York session for NZD/USD to keep its head above water. After dipping to as low as .8157, the Kiwi staged its comeback, forcing the pair to end 9 pips above its opening price at .8223. Read more…
Swiss Franc (CHF)
Looks like someone was struck with the lazy bug! After an entire day of trading, the Swiss franc had moved just 7 pips lower against the dollar and ended the day unchanged against the euro. Read more…
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!
